FX.co ★ BITCOIN Analysis for June 8, 2018

Bitcoin has been quite corrective and volatile recently having no definite trend pressure on either side of the market. The price has been correcting itself for a few days now below $8,000 which is expected to be retested soon in the coming days. As the price breaks above $8,000 area with a daily close, further bullish pressure with a target towards $10,000 is expected. As of the current scenario, the price is being held by the dynamic level of 20 EMA from where it is expected to correct itself for a certain period before it pushes higher towards $8,000. As the price remains above $5,500 area, the bullish bias is expected to continue in the future.